NFO Alert: Axis CRISIL-IBX AAA Bond Index Fund, Indian Manufacturing Fund Launched; check details before investing

Axis Mutual Fund recently introduced a new index fund known as “Axis CRISIL-IBX AAA Bond Financial Services – Index Fund September 2027”. This open-end fund is designed to invest in components of the CRISIL-IBX AAA Financial Services Index (September 2027), offering a balance of moderate interest rate risk and relatively low credit risk. The NFO of this fund is planned to be open for subscription from November 8 to November 21, 2024.

Key details

Benchmark: CRISIL-IBX AAA Financial Services Index – September 2027
Expected maturity date of the scheme: 30 September 2027
Minimum investment: 5000 rupees and further in multiples of 1 rupee.
Fund Manager: Aditya Pagariya

There are many benefits to investing in the AXIS CRISIL-IBX AAA Financial Services Index Fund – September 2027. Provided by Axis MF, this index fund caters to investors looking for a cost-effective passive investment or fixed income product.

The fund primarily invests in AAA-rated assets that are of high quality and have sufficient liquidity. Additionally, security selection is done with minimal bias as the fund replicates the CRISIL-IBX AAA Financial Services Index – September 2027.

India’s productive stock

Canara HSBC Life Insurance launched the India Production Fund as part of its Unit Linked Insurance Plan (ULIP) offering on Thursday, November 7th. Investors have the option to subscribe to this new fund offer (NFO) with an initial NAV of Rs 10 until November. 21, 2024.

The fund’s objective is to achieve long-term capital appreciation by harnessing the growth potential of India’s manufacturing sector through a diversified portfolio of equities.

By focusing on equity and related investments in the manufacturing sector, the Indian Manufacturing Fund aims to create prospects for enhancing investor wealth. Key sectors include automobiles, capital goods, defense, healthcare and metals.

The fund is linked to the Nifty India Manufacturing Index, which covers various Indian manufacturing sectors and is calculated on the basis of free float market capitalization.

To reduce risk, no stock in the fund exceeds the maximum weighting of 5%.

In conjunction with potential wealth accumulation, the fund also offers life insurance benefits.

The fund’s investment strategy allocates 60-100% of its assets to equities and equity-related instruments and the remaining 0-40% to money market instruments excluding debt securities.

Canara HSBC Life’s Wealth Edge Plan aims to help customers achieve their life goals while providing life insurance security and protection against uncertainty, the company announced.

Jyoti Vaswani, Chief Investment Officer, Canara HSBC Life Insurance, said, “The Indian Manufacturing Fund is aligned with the growth of Indian manufacturing and industry that drives economic progress. It offers investors access to promising companies in the sector.”